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Stoneweg negotiates sale of Skyline tower to M&G
19 July 2019 | Vanessa Sousa

One of the towers from Skyline’s housing project developed by Swiss fund Stoneweg, is being negotiated with British M&G Investments, which offered 125 million euro for it.

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According to newspaper Expansión, this operation should be concluded by the end of the month. At the final stages of this race, other companies actively operating in Spain took part in it, such as Greystar and Ares.

This 25 floor building has 300 apartments destined for the Spanish capital’s housing rental market. The 300 dwellings belonging to the other tower – which remain under the Swiss fund’s ownership – should be sold. The future inhabitants of this housing complex will also be able to enjoy common areas such as pool, gym, bicycle parking and a coworking area.

Construction works for this project haven’t yet begun. According to the same newspaper, the first stone ought to be laid down during this year’s second semester and the construction works are expected to be concluded at the beginning of 2022. The development will represent a 200 million euro investment.

 

Photo: Stoneweg